According to local reports, COSCO Shipping Energy Transportation’s (CSET) Board approved an investment in six 307,000 DWT VLCCs, to be built by Dalian Shipbuilding Industry Company (DSIC) and China Shipbuilding Trading Company.
As reported, the six VLCC vessel investment goes for a total of RMB 5.748 billion. This step aims to expand their tanker fleet and meet the increasing demand for energy transport across global markets.
Furthermore, to support this expansion, CSET will reportedly increase its funding to its subsidiary, COSCO Shipping Energy Hainan, by up to RMB 1 billion.
According to the reports, CSET has also approved an acquisition loan to integrate its chemical logistics chain, underscoring its commitment to enhancing supply chain efficiency. This loan, up to RMB 630 million, will help drive further growth in the chemical logistics space.
